Production Tax Credit For Wind Power Saved, For One Year

Supporters of the production tax credit for wind power can breathe a little easier, at least for now. Whatever else anybody says about the “fiscal cliff” legislation drama, in the end, our friends over at the American Wind Energy Association (AWEA) are sure in a celebratory mood. The final bill, signed by President Obama late last night, includes a provision that extends the production tax credit for wind power for one year. Not only that, it changes from providing tax credits only to projects completed by the end of the year, to providing tax credits to any project started by the end of the year. AWEA fought specifically for that definition since it usually takes more than a year, and often up to two years, to develop a new wind farm. Saving the Production Tax Credit for Wind Power The tax credit was set to expire at the end of 2012. Without a prior guarantee that it woul...